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ITA 2025 regimeAct — chapter commentaryVolume XIII1 min read

ITA 2025 — Chapter XIII commentary (Vol XIII)

Chapter XIII

CHAPTER XIII — DETERMINATION OF TAX IN SPECIAL CASES INCOME-TAX ACT, 2025 INCOME-TAX ACT, 1961 s. 195 — LTCG 12.5% post-FA 2024 s. 112 s. 196 — LTCG listed equity 10% above Rs 1.25 lakh s. 112A s. 197 — Lottery / online gaming 30% s. 115 BB / 115BBJ s. 198 — Unexplained income 60% s. 115 BBE s.…

CHAPTER XIII — DETERMINATION OF TAX IN SPECIAL CASES

Chapter XIII — At a Glance

INCOME-TAX ACT, 2025

INCOME-TAX ACT, 1961

s. 195 — LTCG 12.5% post-FA 2024

s. 112

s. 196 — LTCG listed equity 10% above Rs 1.25 lakh

s. 112A

s. 197 — Lottery / online gaming 30%

s. 115BB / 115BBJ

s. 198 — Unexplained income 60%

s. 115BBE

s. 199 — Corporate alternative 22%

s. 115BAA

s. 200 — New manufacturing 15%

s. 115BAB

s. 201 — Individual / HUF default new regime

s. 115BAC

s. 202 — Co-operative alternative

s. 115BAD / 115BAE

s. 210 — VDA 30%

s. 115BBH

s. 213 — Corporate MAT 15%

s. 115JB

s. 216 — Non-corporate AMT 18.5%

s. 115JC

s. 223 — Investment fund pass-through

s. 115UB

s. 231-236 — REIT / InvIT / shipping / others

s. 115UA / 115V

Practitioner notes

  • Annual rate-regime decision: dual computation old vs new is mandatory for every individual / HUF and most companies; document the working in the file.
  • VDA — flat 30%, no set-off; track separately; STT-paid status matters for CGT computation under s. 196.
  • MAT credit / AMT credit carry-forward 15 years; track separately.
  • FA 2024 LTCG amendments — revisit grandfathering option for property bought before 23-7-2024.
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